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Cable Update (GBPUSD)

  • #270,961
  • Feb 3, 2011 11:31am Feb 3, 2011 11:31am
A break above 1.6300 has enormous significance. The fact that price respected it and bounced with such force validates the importance of 1.6300.

Price is just below a major technical point right before a major news announcement. Coincidence? Ahh, no.
"Timing Is Everything. Really I Swear It Is"
  • #270,962
  • Feb 3, 2011 11:33am Feb 3, 2011 11:33am
Quoting priceaction
This trade might be a winner and it might be a loser.
The only thing we are ever certain about is our Risk

If we don't manage it well, it'll make fools of us.

Rob
do you steal my chart?? that was mine this morning..,

so sleepy..back to sleep..
I will be the number one Manager.
  • #270,963
  • Feb 3, 2011 11:34am Feb 3, 2011 11:34am
16100 before further upside maybe
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  • #270,964
  • Edited 12:59pm Feb 3, 2011 12:45pm | Edited 12:59pm
Do you like the lime light highlighted demand zone?
The pink writing says .." still dipping her toes into demand zone"
Sooooooo difficult to explain oneself. lol
Any complaints plz. post them here.
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All systems of divination, like music itself,work through patterns.
  • #270,965
  • Feb 3, 2011 2:01pm Feb 3, 2011 2:01pm
bought @ 1.61372 stop @ 1.61133


........ other


long eu @ 1.36192 @ BE
  • #270,966
  • Feb 3, 2011 2:45pm Feb 3, 2011 2:45pm
Attached Image (click to enlarge)
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. GOne long. Could it be this simple and easy? probably not but i guess we'll find out
  • #270,967
  • Feb 3, 2011 3:31pm Feb 3, 2011 3:31pm
GOne sleep. G/L all.
All systems of divination, like music itself,work through patterns.
  • #270,968
  • Feb 3, 2011 4:13pm Feb 3, 2011 4:13pm
hi there,

i would not buy yet....the price is about to brake the kumo bottom on h1 and after that the hell will be the next stop
  • #270,969
  • Feb 3, 2011 5:07pm Feb 3, 2011 5:07pm
Quoting redbeben
hi there,

i would not buy yet....the price is about to brake the kumo bottom on h1 and after that the hell will be the next stop

hi redbeben,

very interseting about your post. especially about ichi, that i've never studied before.

as i see on my chart it still on up trend and will get 1.6298 as the target, so it just only small correction before going up again. (maybe nextweek).

thanks for your advice,


--------------------
i am just newbie
  • #270,970
  • Feb 3, 2011 7:32pm Feb 3, 2011 7:32pm
potential double top on weekly at the 76.4 fib?

wonder if this is a clue leading into NFP?

on second thoughts more likely that the bulls are taking their lick
in the lead up to it...

Attached Image
  • #270,971
  • Feb 3, 2011 7:36pm Feb 3, 2011 7:36pm
Quoting Cobby
potential double top on weekly at the 76.4 fib?

wonder if this is a clue leading into NFP?

on second thoughts more likely that the bulls are taking their lick
in the lead up to it...

Attachment
hallo cobby..,are you sure 85.4 and 14.6 is part of fibo? any literature or experience about that? thanks..
I will be the number one Manager.
  • #270,972
  • Feb 3, 2011 8:18pm Feb 3, 2011 8:18pm
Quoting Magix
Again...you have a poor choice for seeking companionship in an interactive trading forum.

About as clear as I can summarize, you are pissing into the wind.

You don't want to discuss trading in a trading forum....
Lets' make some money Mag. Is she headed back to support at 1.6000 or will buyers send her back up from here? That's one ugly looking daily candle.. My guess is either lower from here, or back up 30 pips before we head down.
Cap
  • #270,973
  • Feb 3, 2011 8:29pm Feb 3, 2011 8:29pm
Quoting The Captain
Lets' make some money Mag. Is she headed back to support at 1.6000 or will buyers send her back up from here? That's one ugly looking daily candle.. My guess is either lower from here, or back up 30 pips before we head down.
Here's what I see Cap...

http://www.forexfactory.com/showpost...&postcount=936

Got a few of the other USD pairs there too...

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #270,974
  • Feb 3, 2011 8:37pm Feb 3, 2011 8:37pm
Quoting javapips
hallo cobby..,are you sure 85.4 and 14.6 is part of fibo? any literature or experience about that? thanks..

Hi Javapips,

I don't know of any literature on it..it is part of my own work on fibonacci
i've explained it before on this thread and posted quite a few examples

based on a bit of maths around the fibonacci golden ratio of 0.618

100 * 0.618 = 61.8
61.8 * 0.618 = 38.2
38.2 * 0.618 = 23.6
23.6 * 0.618 = 14.6
going one more
14.6 * 0.618 = 9

with 100 - 14.6 = 85.4 fib
similar to 76.4 being 100 - 23.6...

with the 50 fib natrually being the midpoint of the extremes

the two preceding numbers added together = the next in the series and so on...

ie 9 + 14.6 = 23.6
14.6 + 23.6 = 38.2.......

I use it as another confirmation and find it useful for
picking the first swing up in a new uptrend
or swing down in a downtrend

but the underlying assumption is that if the fibonacci sequence appears at all in the chart... then the 14.6 fib must also appear as it is part of the true sequence...

below is a recent m5 example of it in action.... not a big enough reason to
trade on its own but useful as extra confluence...at the right time

just noticed i drew the fib the wrong way up... 14.6 should be the 85.4
as always trust only your own proven research...

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  • #270,975
  • Feb 3, 2011 9:26pm Feb 3, 2011 9:26pm
Quoting Cobby
Hi Javapips,

I don't know of any literature on it..it is part of my own work on fibonacci
i've explained it before on this thread and posted quite a few examples

based on a bit of maths around the fibonacci golden ratio of 0.618

100 * 0.618 = 61.8
61.8 * 0.618 = 38.2
38.2 * 0.618 = 23.6
23.6 * 0.618 = 14.6
going one more
14.6 * 0.618 = 9

with 100 - 14.6 = 85.4 fib
similar to 76.4 being 100 - 23.6...

with the 50 fib natrually being the midpoint of the extremes

the two preceding numbers added together = the next in the...
thanks you vey much.. honestly i don't give so much attention on how those all fibo calculated before.., again, thanks for the explanation..
have a good day..,
I will be the number one Manager.
  • #270,976
  • Feb 3, 2011 9:40pm Feb 3, 2011 9:40pm
Yes, another thankyou Cobby. I inserted these extra fibs last time you pointed them out, and they are very handy.
  • #270,977
  • Feb 3, 2011 9:45pm Feb 3, 2011 9:45pm
I observe bearish divergence on daily candle.
Usually the next / current candle will close lower.

So i'm bearish for today. But could be wrong.
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  • #270,978
  • Feb 3, 2011 10:36pm Feb 3, 2011 10:36pm
Quoting gsantri
I observe bearish divergence on daily candle.
Usually the next / current candle will close lower.

So i'm bearish for today. But could be wrong.
Yea.. Could be wrong like that bearish rev look 5 candles earlier
I've been bearish for almost a month now on GU, and it's been good only for some adrenaline rush. Time for some joy before the week ends? Will know by tonight

Turun gannnnn!!!
  • #270,979
  • Feb 3, 2011 10:58pm Feb 3, 2011 10:58pm
Quoting callmegood
Yea.. Could be wrong like that bearish rev look 5 candles earlier
I've been bearish for almost a month now on GU, and it's been good only for some adrenaline rush. Time for some joy before the week ends? Will know by tonight

Turun gannnnn!!!
Hi CMG,

You mean like this one ?

B back later, I got to go for pray now..
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  • #270,980
  • Feb 3, 2011 11:13pm Feb 3, 2011 11:13pm
Quoting fourxtrader
............
What I have observed is this: .................reflected in the
collective patterns of EMAs (and other charting displays). The mood of the
You can have your specific and lonely fundamentals and I'll take the irrational mood of
the mob and the cuckoo's nest.

[i][color=#0000ff]Finally, when the EMAs compress (with or without a pending...
well i aint into compression/expansion patterns but after reading your posts here and imbibing them into my method using MAs on price and momentum25, has imparted me a clearer vision.
i dont use rainbow instead i use emas 200, 85 for larger picture (to know compression in trend) and smaller emas 14 and 21 for the start of release of compression
i fully agree with you (particularly the bold and erect part here in your post) and realize one technical thing here in compressions and release patterns that they are visible reactions to fundamentals.

Thx a tonne
o'han
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